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Economic Profile
Skokie is fortunate to have a dynamic and diversified local economy. The following section includes detailed information with regard to Economic Census data, employment, largest employers, income and home values, taxes, largest taxpayers, utilities, and transportation.
The combination of industrial activity, retail sales, and business service sector in Skokie is unique in the suburban Chicago area. The Village's locational advantages make it ideal for accessing raw materials and supplies and servicing local, regional and national markets. A large, experienced labor pool is readily available along with abundant and reliable utilities. Skokie boasts many fine cultural and recreational attractions, a high quality housing stock in a variety of styles and prices, and an excellent array of both public and private schools. Some of the country's finest universities and community colleges are also in close proximity to the Village.
Economic Census Data
In terms of the Value Added by Manufacture, a measure of industrial activity which the Census Bureau considers to be the best for comparing the economic importance of manufacturing, the 2002 Economic Census (the latest available) reported a measure of $644,767,000 for Skokie, as one of the most important communities in Illinois. Skokie's manufacturing base at the 2002 Economic Census included 194 manufacturing establishments employing 8,205.
Complementing the Village's industrial base is a strong business and retailing sector. The 2002 Economic Census of Business ranked Skokie among the State's top-10 in terms of Wholesale Trade and in the top-20 in Selected Services, while 2001 State of Illinois retail sales tax receipts placed Skokie 13th in Retail Trade. Only three Illinois municipalities ranked higher than Skokie in all three categories. Skokie also ranks 4th in the state in apparel sales attesting to the market dominance of Old Orchard Shopping Center.
Employment
Skokie has a civilian labor force of 30,076. However, the local economy of Skokie produces approximately 50,000 jobs. Thus Skokie's economy produces a net surplus of almost 20,000 jobs. Skokie is the 8th largest employment center among communities in Cook County, and ranks 12th in the six-county metropolitan Chicago area. Not surprisingly, unemployment in Skokie has traditionally been very low with an August, 2005 rate of 5.1%.
When examining the occupational categories of the employed workforce, "Management/Professional" employment is by far the largest category at 46.3%, followed by Sales/General Office (29.1%), Service (10.5%), Production/Transportation/Distribution (9.7%), and Construction/Extraction/Maintenance (4.3%). |
